TLDR; My Pre-Order Cancelled and I spent money. Now it says it was declined when I checked...

As above, pre orders via credit cards are not charged until shortly before release.

You should check your card statement for the time of the pre order, to ensure no money was taken.

Is it shows that it was taken you should contact Xbox Support here https://support.xbox.com/contact-us

ive had this same issue happen and like they explained the money doesn't get taken out until a day or two before release. if it has taken out I would talk to live support about the issue

If you haven´t pay with prepaid currency on your account the charge of the preorder would take time around 10 days before the release date of the game. If there was not enough money on your card or bank account it won´t be possible to make the payment.
Please check your billing history to double check that the purchase was made.

pre-orders on cards aren't charged until 10 days before the release date. if there are insufficient funds on the card at that time the pre-order is cancelled.

check your
Order History to confirm whether the order went through and you were charged.

if that confirms it you should use the Contact Us link at the bottom of that page to get in touch with Support (either in the chat or request a call back)

If you talk too the xbox customer services they should be able too guide you through a refund process so that you can be able too get your money back. You don't have too phone them as you can talk too them via email or live chat about the issue, hopefully
it gets resolved quickly for you.